Tenant Flat Insurance Question

[Football16]

Just leased a flat myself and despite being a former property & casualty insurance executive, insurance in HK is foreign to me.

What is a typical renter's package here? Cost and coverages?

My main issue is legal liability in case I do something to burn the place or my appliances cause damage versus contents insurance for my inexpensive IKEA furnishings and Fortress appliances.

I looked at on online insurer and the basic coverages were excessive to my needs as my valuable stuff is back home in Canada.

I also wonder how many tenants in HK actually get any coverage despite leases that state if we do damage due to our negligence, the landlord will pursue for their losses.

[big_panda]

I would advise obtaining home contents insurance which usually incorporates public and tenants liability coverage. Its pretty cheap - I obtained $750k contents cover plus $2mil public/tenants liability from Axa only $560 per annum. Thats not much for peace of mind.....

[shri]

As far as accidents go... flooding due to burst pipes seems to be more common than most. That can cause third party damage. Not sure in your case who gets the bill.

Content insurance .. how about laptop, mobile phone? I think I have seen a policy which covers those (although very expensive)...

[PDLM]

I also wonder how many tenants in HK actually get any coverage despite leases that state if we do damage due to our negligence, the landlord will pursue for their losses.

I never did when I was a tenant. The landlord is responsible for damage to your property through fire and structural problems. Burglary was a risk I was happy to take when living in high rises with security. Accidental damage will always cost more than you'll get back unless you are far more clumsy than average (and then your premiums will go up if you claim a lot anyway).

I can't conceive of anything I could be responsible for which could significantly damage the landlord's fittings - perhaps a cooking or electrical fire, but the risk of that is so remote (and the cost of restoration couldn't be more than a few thousands, or tens of thousands at most) that I have always decided just to cover the risk myself.

[Football16]

I would advise obtaining home contents insurance which usually incorporates public and tenants liability coverage. Its pretty cheap - I obtained $750k contents cover plus $2mil public/tenants liability from Axa only $560 per annum. Thats not much for peace of mind.....

My lease (Tung Wah Hospital) is clear that I am liable for damages due to my negligence and where these things get arguable is issues like your fridge or gas cook top having problems and doing damage. I suspect every tenant's lease is similar. You have to be concerned when dealing with outfits that have lawyers...lol. Oh, and when you have assets that can be accessed by those lawyers, then you have to be careful. If you ain't got nothing you got nothing to lose but in my case (most assets are in Canada) I need to protect myself (although my contents aren't that valuable here).

My primary interest is just what Big Panda is suggesting - the third legal liability if someone comes over for a drink and trips and breaks their leg on the slippery floor or if my gas cook stove blows up and there is a dispute as to whether it was a defective product or my use led to the cause of the fire or I go out and let the bathtub overflow.

The cold hard reality for tenants is that they find out only after a problem occurs that the owner has insured his building but you are S.O.L. if your furniture is damaged or lost or that the tenant is responsible for the damage from an over running bath tub. Then they whinge that if they only knew.

[PDLM]

My primary interest is just what Big Panda is suggesting - the third legal liability if someone comes over for a drink and trips and breaks their leg on the slippery floor

This isn't America! That's just life - people don't sue for that sort of thing in civilised countries.

[Football16]

This isn't America! That's just life - people don't sue for that sort of thing in civilised countries.

You are right.... that was not the primary reason. It is more if there is some damage like the bath tub overflowing.

I don't think the Trial Lawyers or local folks here are as adept at suing for everything you can imagine as in the USA.

[shri]

PDLM I know of a famous Brit here in HK who sued because his wife got bitten by their hosts dog. The wife was repeatedly told not to approach the dog who was locked up in the kitchen.

Shit happens everywhere.
Posted via Mobile Device

[Claire ex-ax]

PDLM I know of a famous Brit here in HK who sued because his wife got bitten by their hosts dog. The wife was repeatedly told not to approach the dog who was locked up in the kitchen.

No matter how "idiot proof" something is, the Universe keeps making better idiots.

And, so far, the Universe is winning.

P.S. I hope the tosser lost.